Foreign currency reserve!
When the country’s trade deficit increased alarmingly and finally the country faced a negative balance of payment, People’s Review had alerted the concerned sector about the possible threat for Nepal’s economy.
Instead, the government, which has relied on import tax based revenue, didn’t want to check the import of luxury goods and also didn’t want to encourage import substituting local industries. As a result, the Nepal Rastra Bank, due to the decline of foreign currency reserve and also decline in the Indian currency reserve, has reached to the stage where it has to cut down the supply of Indian currency to those who want to buy them.
If such a trend will continue, Nepal may face serious monitory crisis, economic observers say.
Who is Baburam Bhattarai and for whom does he work, may be, we all Nepalis are aware of this! Bhattarai, the leader of the Socialist Party Nepal, had reached to Kanchanpur to celebrate the 4th anniversary of the Kanchanpur bloodbath and riot. In Kanchanpur, Bhattarai not only gave a communal speech but also provoked the Tharu people to demand for a separate Tharuwan province through an amendment of the constitution. He also opined for the introduction of more than 10 provinces.
It is a good idea as the country’s all resources will be spent to run the provinces and we don’t need to spend on infrastructural projects. This is the proper way to keep Nepal under the foreign domination!
Penetration of pro-monarchists
After watching the crowd in support of Rabi Lamichhane, this Babbler had suspected that the “hornets” of KP Sharma Oli will blame the pro-monarchy people for organizing such big crowds against the government. It is not odd, as some members of Oli’s “Arringal” didn’t miss to mention such a penetration of the pro-monarchists theory! How nice!